Brazil maintains leadership in peanut oil exports in 2024, despite irregular rains

Peanut Oil

Nuts & Seeds

Published Feb 22, 2024

Tridge summary

The Campinas Agronomic Institute (IAC) and Embrapa recently showcased several peanut seed varieties in Itaju, Brazil, boosting prospects for the 2023 harvest. Despite inconsistent rainfall, Brazil remains the top exporter of peanut oil, with the USDA predicting it will rank as the 12th largest global peanut producer in 2023. The Chinese market accounts for 80% of Brazil's peanut oil exports. Future seed varieties with disease resistance, high industrial yield, and early cycle were also discussed at the meeting.

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Original content

At the recent meeting held in Itaju (SP), known as the national capital of peanut oil, the Campinas Agronomic Institute (IAC) and Embrapa presented several varieties and seed lines to producers, reinforcing positive expectations for the 2023 harvest. /24. Even in the face of irregular rains, Brazil continues to be the leader in peanut oil exports, as pointed out by the United States Department of Agriculture (USDA). According to the USDA, although Brazil will be the 12th largest global producer of peanuts in 2023, it took first place in peanut oil exports, with 86 thousand tons sold. The event highlighted the importance of the Chinese market, responsible for 80% of purchases of this Brazilian product. Rodrigo Chitarelli, CEO of CRAS Brasil, highlighted the need to encourage planting to increase production and meet growing demand. Despite the irregular rains and high temperatures that affected the 23/24 harvest, Chitarelli assures that water stress will not impact peanut oil ...

Source: Portal Do Agronegocio